RLC putting up 6 more malls in 2008
By Elizabeth Sanchez-Lacson
Philippine Daily Inquirer
First Posted 23:44:00 02/10/2008
Filed Under: Real Estate, Retail, Construction & Property
ROBINSONS LAND CORP., the real-estate unit of the Gokongwei Group, is adding at least six more malls to its existing list this year, company president Frederick Go said.
Go said RLC's mall expansion formed part of the company's planned P10-capital expenditure program for 2008.
The amount was higher than the P7 billion to P8 billion spent by the company last year.
The new malls are being put up in Pulilan, Bulacan; Tacloban, Leyte; Cabanatuan, Nueva Ecija; Davao City; Cebu; and Dumaguete City, Negros Oriental.
RLC recently completed the foundation of its three-level shopping mall in Dumaguete City, which is scheduled for completion in mid-next year, the company said in a recent disclosure.
The Dumaguete mall , which will be RLC's fourth mall in the Visayas, will include an 80-room hotel and 3,000-square meter trade hall.
RLC's first three shopping malls in the Visayas are in Bacolod, Iloilo and Cebu.
Go also said RLC would also build this year a hotel in Tagaytay, across Josephine's restaurant. The hotel will be named Summit Ridge and is scheduled for completion next year.
In earlier documents filed with the Securities and Exchange Commission, RLC said the proposed hotel in Tagaytay would have 54 hotel rooms, 36 serviced apartments, five luxury villas and conference facilities.
RLC is a major player in the property market and boasts of a growing portfolio now composed of 20 shopping centers, 23 residential condominiums, five office buildings, 27 housing and land developments, and three hotels.
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